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FIAA partners with Tirana Economic Forum in its II edition

January 31, 2020
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The second edition of Tirana Economic Forum, entitled “PATHS TO PRAGMATIC REFORM”, was held on January 30th, 2020, in Tirana.  Tirana Economic Forum is a high-level meeting of the most influential Albanian and international political, corporate, and intellectual leaders to address pressing challenges currently facing Albania and the world.

FIAA continued to be the main local Partner of the Tirana Economic Forum by having a high representation of its members and by moderating one of the most important sessions related to the Economic Reforms and Business Environment in the Country. The Session, entitled “Maintaining the reform momentum:  the case for macro-fiscal sustainability and improved investment climate” was moderated by the FIAA Director Ms. Marinela Jazoj and was elaborated among key business Representatives in Albania such as Chairman of Shell Industries in Albania Mr. Rohan D’Souza, the President of the Union of Chambers of Commerce, Mrs. Ines Mucostepa along with other Representatives. The forum was an excellent Networking opportunity and helped to identify and assess key growth challenges and reforms, as well to learn from policy experiences in other countries.

To learn more on the Forum please visit: www.tiranaforum.com

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FIAA’s GET TOGETHER EVENT

December 3, 2019
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FIAA hold its end of year Get Together in late November 2019, bringing together in a very warm atmosphere a large part of the Foreign Business Community, representatives of the diplomatic bodies along with several representatives of the Authorities and state institutions in the country.

The Deputy Chairman of FIAA, Mr. Mario Bracci and Executive Director Ms. Marinela Jazoj expressed some remarks and reflections on 2019 experiences and gratitude to the members who have trusted FIAA along the years and have stayed together for almost 20 years.

Among others, Mr. Bracci stated: “I would like to highlight that Government of Albania should increase the focus on the further improvement of the business climate, putting larger efforts on increasing transparency and decreasing corruption and unfair competition”.

On the other side, Mr. Eduard Shalsi, the Minister of State for the Protection of Entrepreneurship in Albania gave some remarks to the foreign business community and once more expressed his availability to cooperate and assist the foreign business and follow up with their concerns. For Mr. Shalsi it is very important the continuity of Communication with the Business Community.

The Event continued further with business talks among the guests and members and was a good timing to discuss the grounds and ideas for the 2020 Agenda.

 

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IMF Mission – FIAA Meeting

November 8, 2019
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IMF Tax Administration Mission on Medium Term Revenue Strategy (MTRS) visited Tirana during November and meet with FIAA Representatives. During the consultations with the FIAA, were discussed the main concerns and challenges Business is facing while operating in Albania. The main focus the business was giving in the meeting, was also on the progress of tax and customs reform in the country along with some ideas and recommendations they were proposing for improvements in this area. FIAA members in this meeting were coming from various industries, but what they stressed out, was a common concern when it comes with the relation they have with Tax Institutions in the country.

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FIAA Tax and Financial Committee

November 1, 2019
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After the Ministry of Finance and Economy  released the Draft Law “On invoices and the system for monitoring the transactions” and the meeting of the Fiscal Council, the FIAA Tax and Financial Committee met at the beginning of November to comment and discuss on these drafts along with other changes and draft amendments part of the Fiscal Package 2020 such as:

  • Draft Law on Tax Procedures and its Report
  • Amendment on Tax on Incomes and its Report
  • Draft Law on National Taxes and its Report
  • Draft Law and Draft Decision on VAT and relevant report.

Given the broader impact that these draft laws were expected to have to the business, FIAA members have delivered reviews on these Drafts to the Ministry of Finance and Economy along with suggestions for the Fiscal Package drafts.

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FIAA receives Canadian Mission in Tirana

October 21, 2019
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Minister/Counselor Mrs. Edith St-Hilaire, in charge for Commercial Sector at the Canadian Embassy in Rome and Mr. Matthew Kalisz, First Secretary and Trade Commissioner, paid an official visit during October in Tirana. During the visit, they met FIAA Representatives Mr. Perparim Kalo, Board Director and Mr. Perparim Alikaj, Chairman of FIAA Committee of Mining Oil & Gas. During this meeting, FIAA representatives presented a general view on the present Albanian foreign investment and economic situation, potential areas for investments and random barriers faced by investors while doing business in the country.

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FIAA Board meets with RCC Experts for the implementation of IRAP

October 17, 2019
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Being the only foreign business representing organization in Albania, FIAA met with the RCC Representatives (Regional Cooperation Council), and the Ministry of Finance and Economy, to give its views and perspectives on the implementation of Individual Reform Action Plan (IRAP) within the MAP REA Regional Investment Reform Agenda.  During the consultations with the FIAA Representatives, were discussed the ongoing reforms and policies undertaken in Albania along with the specific concerns Business is facing. FIAA highlighted the importance of the business involvement in the consulting process and stressed out continuous lack of the follow up in several government initiatives.

The expected outcome of this meeting was a clear set of reform priorities and implementation timelines over the next year and a half for each of the policy areas covered by the IRAP, ensuring that Albania’s respective policy priorities are addressed properly through the implementation of the IRAP.

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Investment Council discusses on Investment Potentials and Priority Sectors

October 4, 2019
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Chaired by the Minister of Finance and Economy, Ms Anila Denaj, Albania Investment Council discussed “On Investment Potentials and Priority Sectors” during its scheduled meeting in October 2019. In her opening speech, Minister Denaj said that the meeting is a good opportunity for all the parties to dialogue the promotion of vital sectors of the economy in sustainable development models. According to Minister Denaj, fiscal consolidation, sectoral economic policies, natural resources, country’s competitive advantages and the potential of human resources are key factors to enable a structured medium-term economic growth.

For more information please visit: https://www.investment.com.al/investment-council-discusses-on-investment-potentials-and-priority-sectors/

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FIAA participates the World Bank Consultative Meeting with Private Sector

September 20, 2019
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The World Bank Group (WBG) has been preparing the Systematic Country Diagnostic (SCD) update for Albania. The first SCD for Albania was submitted to the WBG Board and published in 2015. The updated SCD is required as the evidence base to prepare the next Country Partnership Framework (CPF) that would define the engagement between the WBG and Albania in the next five years.

In frame of consultations with a range of stakeholders in Albania and for the purpose of gathering and analyzing evidence, a consultative meeting was held in September 18th at the World Bank office in Tirana. Ms. Ana Maria Oviedo and Mr. Christoph Ungerer, main authors of the SCD presented the preliminary findings, followed by discussion and comments and meeting participants.

FIAA was represented in this meeting by Board Director Mr. Perparim Kalo.

The SCD update focuses on measuring Albania’s progress towards reaching the WBG “Twin Goals” of: eliminating poverty and advancing shared prosperity.

The SCD update is also mandated to identify key binding constraints to achieve the Twin Goals and policy priorities to tackle them.

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FIAA organizes Roundtable on the Draft Law on Invoices and the System for Monitoring the Transactions

September 11, 2019
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Over the last months, FIAA has circulated for consultation among its members the Draft Law on “Invoices and the System for Monitoring the Transactions”. The changes proposed in this draft law are expected to have a broader impact for business in Albania in the next year.

As a follow up of the potential issues identified by FIAA members, various comments and opinions, in September 11th, FIAA organized a technical level consultation Roundtable with the participation of the Vice Minister of Finance and Economy Mr. Elton Haxhi and the Ministry’s Advisor Mrs. Arjana Dyrmishi.

Several representatives of FIAA shared their opinion and introduced relevant recommendations and arguments in support of improvements of the draft. There were several questions from business related to the manner the transactions’ law would function, administrative duties, necessary training, categories to be included and excluded, etc.

Based on the collected recommendations and comments, Experts in charge will continue to improve the Draft and try to reflect the Business Concerns shared during the Discussion. FIAA looks forward to the final reviewed draft law.

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Investment Law, discussions are going on

June 26, 2019
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During the last months, FIAA has circulated among its members the Draft Unified Investment Law, which is open for consultation. As a follow up of the various comments and opinions, the Responsible Body for its Business Consultation, the Albania Investment Council in cooperation with the Ministry of Finance and Economy and presence of IFC Experts organized in June 25th a consultation round table.

FIAA was present with several Representatives, who shared their opinion and introduced the member’ recommendations in support of a good Investment Law in Albania. The discussion was mainly focused on the general terms of the Draft Law principles, but also didn’t miss the technical level discussion, along with lots of relevant arguments. Based on the collected recommendations and comments, the Experts in charge will continue to improve the Draft and try to reflect the Business Concerns shared during the Discussion.

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